Epic Housing Shortage Being Reported

Epic Housing Shortage Being Reported | Simplifying The Market

The Joint Center of Housing Studies (JCHS) at Harvard University recently released their 2017 State of the Nation’s Housing Study, and a recent blog from JCHS revealed some of the more surprising aspects of the study.

The first two revelations centered around the shortage of housing inventory currently available in both existing homes and new construction.

Regarding Existing Home Inventory:

“For the fourth year in a row, the inventory of homes for sale across the US not only failed to recover, but dropped yet again. At the end of 2016 there were historically low 1.65 million homes for sale nationwide, which at the current sales rate was just 3.6 months of supply – almost half of the 6.0 months level that is considered a balanced market.”

Regarding New Home Inventory:

“Markets nationwide are still feeling the effects of the deep and extended decline in housing construction. Over the past 10 years, just 9 million new housing units were completed and added to the housing stock. This was the lowest 10-year period on records dating back to the 1970s, and far below the 14 and 15 million units averaged over the 1980s and 1990s.”

Bottom Line

The biggest challenge in today’s market is getting current homeowners and builders to realize the opportunity they have to maximize profit by selling and/or building NOW!!  Give me a call to get started – J.P. Cook – 602-320-4253.

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914 E Osborn Road Unit 201 Phoenix, AZ 85014

$690,000 - 2Br/2Ba -  for Sale in Artisan Lofts Condominium, Phoenix
Open House
$690,000
2 Beds
2 Baths
1,708 SqFt
Status Active
MLS # 6775211
Property Type Townhouse
Price Type --
Experience New York Loft Living in the Heart of Phoenix! This exceptional home features sleek polished concrete floors, a striking fireplace wall, a floating wood staircase, and artistic touches throughout, making it a true architectural masterpiece. The chef-inspired kitchen boasts modern flat-panel black European cabinetry, elegant quartz countertops, and top-of-the-line appliances, including a Sub-Zero refrigerator and a Fisher & Paykel oven with an induction cooktop—perfect for crafting gourmet meals. Ideal for entertaining, the kitchen seamlessly flows into the dining area and great room, while two walk-out balconies provide stunning sunset views and a front-row seat to Phoenix's 4th of July fireworks. Each bathroom is meticulously designed with a stylish blend of natural wood and chic tile finishes, balancing modern elegance with timeless charm. The primary bedroom offers a luxurious walk-in closet with custom cabinetry, glass doors, integrated lighting, and ample storage space for all your belongings. This home also includes a spacious laundry room with cabinets for extra storage and a tankless water heater for added convenience. With three designated parking spots in the garage, this loft offers urban sophistication paired with practical desert living truly one of a kind!

2682 E Dublin Street Gilbert, AZ 85295

$690,000 - 4Br/3Ba -  for Sale in Lyons Gate Phase 1 And 2, Gilbert
Open House
$690,000
4 Beds
2.5 Baths
3,308 SqFt
Status Active
MLS # 6768599
Property Type Single Family Residence
Price Type --
Seller may consider buyer concessions if made in an offer. Welcome to your dream home, beautifully updated with a fresh interior and exterior paint in a neutral color scheme. The kitchen is a chef's delight with a center island, accent backsplash, and a walk-in pantry for ample storage. Retreat to the primary bedroom featuring a walk-in closet and double closets for all your storage needs. The primary bathroom is a spa-like oasis with double sinks and a separate tub and shower. Outside, enjoy a covered patio perfect for outdoor dining and a fenced-in backyard for privacy. This home has also undergone partial flooring replacement, enhancing its modern appeal. Don't miss this rare opportunity to own a home that combines style, comfort, and functionality.

16814 E Palm Beach Drive Queen Creek, AZ 85142

$690,000 - 4Br/3Ba -  for Sale in Queen Creek, Queen Creek
Open House
$690,000
4 Beds
3 Baths
2,313 SqFt
Status Active
MLS # 6729133
Property Type Single Family Residence
Price Type --
Seller may consider buyer concessions if made in an offer. Welcome to this elegant property featuring a neutral color scheme and a cozy fireplace, RV gate, a three car garage and no HOA. Bring your toys! The kitchen is a chef's dream, with a center island, and stainless steel appliances. Travertine tile in the right places. The primary bedroom includes a walk-in closet and an en-suite bathroom with double sinks, a separate tub, and a shower. Enjoy the outdoors on the covered patio, dip in the private in-ground pool, or relax in the fenced backyard. The home has fresh interior paint and partial flooring replacement, adding to its charm. This property is a perfect blend of comfort and style.

6850 E Mcdowell Road Unit 7 Scottsdale, AZ 85257

$689,999
3 Beds
2.5 Baths
1,759 SqFt
Status Active
MLS # 6723887
Property Type Townhouse
Price Type --
Aire Luxury Living Is Here! Your new 3 bed, 2.5 bath townhouse is waiting for you to move in. A unique opportunity to own a 3 story end-unit, private rooftop home. Fully loaded kitchen is a chef's dream with counter space and storage you are looking for. First floor rec with laundry room, second floor living room opens to large balcony, third floor living quarters all with natural lighting and 10 foot ceilings. Entertain guests from home, use turf pathways for your fury friends, community gym pairs well with large pool, there is just no reason to leave. With views of Papago Park and Camelback Mountain, you are just minutes away from Downtown Scottsdale. Hiking, biking and local amenities are a huge plus.

25915 N 23rd Avenue Phoenix, AZ 85085

$689,990
3 Beds
2.5 Baths
2,567 SqFt
Status Active
MLS # 6740971
Property Type Single Family Residence
Price Type --
Welcome to this beautifully designed Alta plan, offering 2,567 square feet of luxurious living space. With its charming farmhouse exterior elevation and inviting covered entry paved with elegant pavers, this home is designed for both style and comfort. The heart of this home is the stunning kitchen, featuring stainless steel GE appliances, including an under-cabinet hood, built-in gas cooktop with five burners, and a built-in wall oven and microwave with a sleek trim kit. The kitchen is a chef's dream with two tone painted shaker cabinetry, white on kitchen perimeter and urbane bronze on kitchen island. All is accented by stylish matte black and satin nickel cabinet hardware which perfectly complementing the 42'' upper cabinets and 3'' crown molding. Enjoy the beauty of Della Terra Pilar countertops, adorned with delicate veining, and a contemporary Dal Tile white 4x12 backsplash. The large single basin stainless steel sink, paired with a Moen Align matte black kitchen faucet, adds both functionality and style. Retreat to the luxurious bathrooms featuring urbane bronze painted shaker cabinets, white cultured marble countertops with rectangular sinks and Moen Gibson matte black premium 8 widespread faucets. Upgraded Calhoun matte black vanity lights illuminate your space. The Dal Tile Vicinity 6x36 Natural wood look tile flows seamlessly throughout the downstairs and into bath 2 and the laundry room upstairs. The primary bathroom showcases exquisite AZ Tile Futura Ivory 12x24 tile, providing a spa-like experience. Upstairs, a tasteful paint grade mission stair rail and is complimented by plush Shaw Kennfield carpet in the shade Ecru adding warmth and comfort, all trimmed with upgraded 4 ¼ baseboards. Throughout, the 8' interior doors adorned with Milan Lever matte black door hardware throughout, adding a touch of sophistication. The side yard is perfect for entertaining, featuring a convenient gas stub for a BBQ, making outdoor gatherings a breeze. This home also includes a soft water loop for added convenience. Located in Union Park at Norterra this home offers not just a living space, but a lifestyle. Don't miss the opportunity to make this your forever home and experience the epitome of modern farmhouse living! Tree-lined streets, pedestrian-friendly sidewalks and a 5,500 sf recreation center with resort style pool an kiddie pool, shaded ramadas, parks, gathering areas, pickelball courts and basketball. Close to I-17, 101 and 303. Walking distance to restaurants, movies, entertainment and shopping.

19020 W Ocotillo Road Waddell, AZ 85355

$689,990
4 Beds
3 Baths
2,588 SqFt
Status Active
MLS # 6739358
Property Type Single Family Residence
Price Type --
READY FOR YOU TO MOVE-IN!!! It's the stunning Benissa with 4 bedrooms, 3 baths, formal dining, courtyard, covered patio. 12'x8' sliding glass door off the great room for easy access to the back yard. Pavers at drive, walk and entry. Kitchen upgrades includes stainless steel gas appliance package with 36'' cooktop, wall oven, glass canopy hood. Linen-''off white'' cabinets throughout with 42'' kitchen uppers, pull out trash drawer/ AZT Silver Falls granite in kitchen including the enhanced kitchen island. Stainless steel undermount single bowl sink. Upgrade flooring includes 5'' baseboards and 3 1/4'' door casings. EMS Cabo II 17x17 Ocean tile in all areas except beds & closets. Two tone interior ''Whiskers' paint. Soft water loop, gas stub for future BBQ and so much more.

866 W Flatiron Trail Apache Junction, AZ 85120

$689,990
4 Beds
3 Baths
2,607 SqFt
Status Active
MLS # 6750774
Property Type Single Family Residence
Price Type --
Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 2% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, and/or price adjustments. The Livorno floor plan offers a stylish single-story design with four bedrooms, an All Gen suite, and a spacious flex area ideal for an office, TV room, or study. The home includes front yard landscaping and will be ready for occupancy in October. Conveniently located near community parks, grocery stores, and a variety of dining options.

2428 W Rowel Road Phoenix, AZ 85085

$689,990 - 3Br/4Ba -  for Sale in Aster Union Park Norterra, Phoenix
Open House
$689,990
3 Beds
3.5 Baths
2,455 SqFt
Status Active
MLS # 6755372
Property Type Single Family Residence
Price Type --
Welcome to your NEW HOME at Aster in Union Park! 2,455 sq ft of living space with 3 bedrooms, 3.5 bathrooms, Loft and a 2-car garage. All three bedrooms have their own bathroom. Highly upgraded Elite package of upgrades including 42'' white cabinets, marble quartz countertops, custom backsplash, a large island, GE Cafe' stainless-steel Refrigerator & gas appliances & Blanco Valea single bowl sink. Upgraded 8x40'' tile and carpet, 2'' blinds and more! 2 car garage has 18' wide door. Union Park, residents can indulge in amenities including a 5800 sq ft clubhouse, Resort pool, Pickleball courts, playgrounds, basketball courts and 11 Parks. Central Location to nearby shopping, dining and entertainment. Access to 3 different freeways within 15 minutes and be at the airport in 30 minutes.

6121 E Vernon Avenue Scottsdale, AZ 85257

$689,990
3 Beds
2 Baths
1,868 SqFt
Status Active
MLS # 6753488
Property Type Townhouse
Price Type --
The home is fully remodeled and looks amazing. The property is completely turnkey and boasts a wealth of new features: Triple-pane windows in all bedrooms Custom triple-pane sliding windows Elegant custom shower enclosures Thoughtfully designed custom closet systems Razor-sharp tile, wood burning fireplace Brand new bath vanities New Upgraded cabinets throughout Beautiful granite countertops Modern light fixtures Fully remodeled showers with new fixtures Backlit LED mirrors with defog function in the master bath Outside, the landscaping has been freshly installed, a worry-free irrigation system. Anderson installed all windows and sliding doors. Family-friendly! Minutes form Arcadia, Papago park, Scottsdale Fashion square&Camleback Corrider.

908 W Superstition Dr Drive Queen Creek, AZ 85140

$689,980
3 Beds
2.5 Baths
2,748 SqFt
Status Active
MLS # 6760460
Property Type Single Family Residence
Price Type --
NEW Palo Verde COMMUNITY! Inviting 3 bed 2.5 bath plus Den single level home with 10' ceilings that you are sure to fall in love with. Chefs' paradise featuring gourmet kitchen w/ stacked cabinets, quartz countertops, high end appliances & a Morning Kitchen/Butler's Pantry. The primary bedroom is very spacious, and the primary bath features a very large walk-in shower that is a must see. Plus, a 4 CAR TANDEM GARAGE! Amenities galore at North Creek including pool, outdoor fireplace, BBQ's, basketball & pickleball courts, Parks & playgrounds, walking paths, exercise stations & a nature sensory park! Home is under construction and should be complete December 2024.

6907 E Pinchot Avenue Scottsdale, AZ 85251

$689,900
3 Beds
2 Baths
1,393 SqFt
Status Active
MLS # 6758050
Property Type Single Family Residence
Price Type --
Beautifully remodeled gem nestled in the heart of Scottsdale, AZ. This exquisite 3-bed, 2-bath home gleams a fresh, contemporary style with a fully cosmetic renovation that merges modern convenience with desert charm. Step inside to discover a bright and airy open floor plan, highlighted by sleek white shaker cabinets, pristine quartz countertops, and top-of-the-line stainless steel appliances. The spacious kitchen is a culinary delight, perfect for both everyday meals and entertaining guests. The highlight of the backyard is the large, inviting pool, perfect for relaxing or hosting gatherings under the Arizona sun.

18956 N 264th Lane Buckeye, AZ 85396

$689,900
2 Beds
2.5 Baths
2,212 SqFt
Status Active
MLS # 6747772
Property Type Single Family Residence
Price Type --
Gorgeous, turn key, Refuge model, home by Del Webb 55+Active Community. Breathtaking, extended, backyard oasis offers a fully walled lot for privacy. Sunsets and White Tank Mountain views (partial) encourages regular gatherings with family and friends. Custom landscaping includes an inviting heated swimming pool with large waterfall feature, alumawood solid pergola covered gourmet outdoor kitchen, large gas fire pit, enclosed patio with ceiling fan. Home interior boasts $100,000+ in upgrades: custom tile flooring, Chef cabinet layout, granite counters throughout, designer closet in master with separate walk-in shower and soaking tub, open corner sliding glass patio door, expanded walk-in pantry, plantation shutters, and more. Fully owned, 35 solar panels. Stainless steel appliances.

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